Market Ticker Forums
Detailed market commentary at The Market Ticker and Ticker Classics (The Year 2012 In Review)
Donations accepted; we offer GOLD ACCESS for enhanced privileges. T-Shirts, caps, coffee mugs? Click here.
BlogTalkRadio - Mondays at 3:30 Central - Yes, TickerGuy has a radio show (kinda)
Rss Icon RSS available You are not signed on; if you are a visitor please register for a free account!
Sponsored Advertising
To remove advertising from your display upgrade to Gold Donor status
MarketTicker Forums Read Message in Consumer
User: Not logged on
Top Forum Top Login Control Panel FAQ Register Logout
Showing Page 1 of 2  First12Last
User Info What do you spend on the lotto? in forum [Consumer]
Eighty6thebs
Posts: 4183
Incept: 2007-06-26
Green
It's contained to sub-prime!
Report This As A Bad Post Add To Your Ignored User List Ignore this thread
I read an article in the Atlanta paper today that floored me so I asked my wife, " what do you think the average person in Georgia spent on the lotto in 2010"? She said 5 bucks. I was thinking maybe 10-15 assuming most people dont play.

The answer...470.73! I'm totally stunned by that number. The article goes on to say that in a single week in Georgia, a state with about 10m people, they spent over 100M or 10 bucks a person in a single week.

http://blogs.ajc.com/news-to-me/2012/03/....

Wtf?


----------
"Sounds to me like you guys a couple of bookies" - Billy Ray Valentine

"No I am not scared, and neither should you be!" - Iraqi Information Minister

Ponzi_unit
Posts: 8110
Incept: 2007-09-05
Gold

Online
Report This As A Bad Post Add To Your Ignored User List
Yep. I believe it 100%. Used to have a delivery route that covered the St. Johns river as it flowed out of Jax to the ocean and BEFORE Lotto that road was basically turned in to a parking lot on weekends as everyone would pack the kids and lunch and go fishing. AFTER Lotto not so much and it happened within a sixty day time frame.

I'm guessing that all that school money Lotto collected educated the children so much that they didn't see the need to go fishing with Mom & Dad on the weekends anymore... /sarcastic

Edit: to answer your question - ZERO

----------
Taxpayers witnessed a crime and stayed around long enough to get charged with it.

Abn0rmal
Posts: 9261
Incept: 2009-01-10
Green A True American Patriot!
Report This As A Bad Post Add To Your Ignored User List
I can't recall a single time in my life that I ever bought a lotto ticket.
Djloche
Posts: 3275
Incept: 2008-07-07
Silver
In the Mountains
Online
Report This As A Bad Post Add To Your Ignored User List
what about lotto puts

----------
"If we wish to be free, we must fight! I repeat it, sir, we must fight! An appeal to arms and to the God of Hosts is all that is left us! Gentlemen may cry, "Peace! Peace!" -- but there is no peace. The war is actually begun! Our brethren are already in the field! Why stand we here idle?"
Platawn
Posts: 105
Incept: 2008-10-30
Gold
SF Bay Area
Report This As A Bad Post Add To Your Ignored User List
Playing the lotto ( assuming you can't rig it ) is on the same level as buying a policy insuring against death/injury incurred by meteorites.
Mrgone
Posts: 4229
Incept: 2007-09-15
Green
The Event Horizon
Report This As A Bad Post Add To Your Ignored User List
lottery = tax on poor and ignorant.

----------
“The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."
- Leo Tolstoy
Jotapay
Posts: 16729
Incept: 2008-08-26
Silver
Austin, Tx
Report This As A Bad Post Add To Your Ignored User List
I used to work in a convenience store for 4 years while I was going to school at UT. It was one of the busiest stores in Austin because of the neighborhood (Hyde Park). We called the Lottery "the stupid tax". For scratch off Lotto tickets, it says right on the back of the damn card that your chances of winning are around 1:4.5, so you win around 22 cents of every dollar back. We explained that to all the customers, showing them the ticket, and every single one swore, "I'm ahead!" It's mental sickness. Some were really far gone, spending $40-50/day, when they were driving an old 1970s land yacht that would barely start.

I spend zero on the lottery.

Chimichanga
Posts: 526
Incept: 2011-03-16
Green
Tokyo
Report This As A Bad Post Add To Your Ignored User List
Here we have the lottery only a few times a year-- not a daily thing. Scratch tickets I guess we have year round.

Anyway when they do have a lottery, the line to buy tickets stretches halfway down the block, and they have to have guys out there with signs to show where the end of the line is. Every time I used to pass by with my kids I told them to whisper a word of thanks, as those generous souls were paying extra taxes so we wouldn't have to.

I'm shocked at the $470 amount. My total is of course zero. Do you have maybe neighboring states without lotteries, so people come over the border to play?
Eighty6thebs
Posts: 4183
Incept: 2007-06-26
Green
It's contained to sub-prime!
Report This As A Bad Post Add To Your Ignored User List
I would expect TF to be near zero and I agree this is a stupid tax. I think the smarter a person is, the less likely they play the lotto.

A quick check of neighbor states (FL, SC, TN, AL) showed only AL does not have the lotto currently so maybe we get some from there but I doubt it's too much. Miss on the other side of AL has full casino's if they want to gamble and AL has dog tracks.

I have to think half the people in the state never pay and this is slated towards the poor so let's just say we have poor folks paying almost 1000 bucks a year to play! This is a joke.


----------
"Sounds to me like you guys a couple of bookies" - Billy Ray Valentine

"No I am not scared, and neither should you be!" - Iraqi Information Minister
-contrarian-
Posts: 673
Incept: 2008-12-06
Green
Report This As A Bad Post Add To Your Ignored User List
Saying it is a stupid tax implies that were the spender to save the capital they would be able to significantly improve their life with it. I would not say that is the case. For these people, the lottery is really their only chance at finding an open gate on the plantation one day.

----------
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."
Friedrich Hayek
Zerosum
Posts: 4573
Incept: 2007-11-11
Gold
Yes. It's a train.
Report This As A Bad Post Add To Your Ignored User List
Just after loto games began in CA, I found a ticket on the street that turned out to be worth $77. I've never given even a buck of that back to 'em.

----------
"The new American Dream is to get to be very rich and still be regarded as a victim."
--Charles Simic
Otiswild
Posts: 5620
Incept: 2009-03-09
Green
Inside you, the force is!
Report This As A Bad Post Add To Your Ignored User List
My old job they'd get a pool together for the big jackpots and I'd throw in a few bucks to be social, but that crew was mathematically challenged to be sure smiley

My current job would probably fire someone for being that ignorant, the brainpower per square meter is about as high as I've seen since TJ Watson.. People doing stoichiometric analysis in their heads and **** smiley
Wakeupcall
Posts: 4233
Incept: 2009-06-08
Green
Hampton Roads, VA
Report This As A Bad Post Add To Your Ignored User List
Me? Regular lottery tickets? Maybe 2-3 in my entire life. None in the last 20 years. Scratch tickets? Maybe 10-total. None in about 25 years.

Dh? I don't know why he does it. Doesn't make sense to me. But, occasionally, when I'm going through his wallet for receipts (to match up to cc statement), I'll find a stub. Or sometimes in the glove compartment. I'm guessing he maybe buys 5 or so a year. What the heck, for the price of a Starbucks, he can dream the ultimate dream-lol!

----------
“Nothing travels faster than the speed of light, with the possible exception of bad news, which obeys its own special laws.”
Imaboomerdropout
Posts: 305
Incept: 2009-09-13
Green
NY
Report This As A Bad Post Add To Your Ignored User List
This thread made me pull out my old cigar box. I have two old lottery tickets from the New York Lottery that never happened. NY started a lottery in 1975 for fifty cents a ticket. The first prize was 250K. I remember the first time I played, I won 50 bucks. Anyway, an investigation revealed that the lottery was rigged and they cancelled the lottery. You could turn your tickets in for a refund but I kept mine. They're dated OCT 31, 1975. Even back then, everything was fraud. Last time I played was about a year ago. Just that once for the dream of winning 330 mil.
Matt_bear
Posts: 6357
Incept: 2008-07-15
Gold
a week early on spy puts
Report This As A Bad Post Add To Your Ignored User List
i probably spend $100 a year on various lotto tickets and scratch offs.

----------
In terms of real-world fundamentals, I expect that most of the people around me, whom I work with day to day, and whom I pass on the street ... will be dead within five years.
Lk
Posts: 13185
Incept: 2008-03-13
Gold
DC - VA
Report This As A Bad Post Add To Your Ignored User List
$0.00

life's enough of a lttery without subsidizing the state's version
Truthseeker
Posts: 8476
Incept: 2007-10-07
Silver A True American Patriot!
NorCal
Report This As A Bad Post Add To Your Ignored User List
Lifetime total? $2.00. (The first time there was a $100M+ prize, and I was visiting Philly at the time.) Circa 1984.

Not much "fun" quotient in spending real money on a hopeless bet...

----------
"...But people better realize that the worst-case scenario could actually happen.9/11 happened. This can happen. An economic 9/11, the likes of which we've never seen." Gerald Celente
Steelpiston71
Posts: 4858
Incept: 2007-09-05
Green
Michigan
Report This As A Bad Post Add To Your Ignored User List
Buying lotto tickets and putting them in the bday card of a friend is about the best use I've seen for them. You don't get the awkward situation from putting in money, and they could win something, but there is the excitement level regardless if they were all losers.

----------
"We have resolution authority under Frank/Dodd... How about we USE IT?" Karl Denninger, 10/07/10 on the Dylan Ratigan Show, MSNBC.
Asimov
Posts: 104008
Incept: 2007-08-26
Gold
East Tennessee Eastern Time
Report This As A Bad Post Add To Your Ignored User List
Real lotto tickets, never. Scratch offs? Maybe $100 over my life. At least 1/2 of those were used as bday/christmas presents.

----------
It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Thelurker
Posts: 35
Incept: 2011-05-12

Report This As A Bad Post Add To Your Ignored User List
I have won the lottery 30 or 40 times, and never spent a penny on it.

500,000 to 15.6 Million Euros.

I still have the emails, I just need to send my name abd bank info to claim the prizes....
Nanna
Posts: 5662
Incept: 2008-01-20
Gold
NY State
Report This As A Bad Post Add To Your Ignored User List
Maybe 20 bucks a year.

I'm probably net break even.

----------
"There are fluctuations in the market that don't mean anything."Ira Gluskin, February 14, 2012
Colk55
Posts: 2420
Incept: 2010-02-11
Green
Indiana
Report This As A Bad Post Add To Your Ignored User List
I haven't played it on a regular basis since the early 90s when I would buy one ticket a week. I used to use the same numbers every week and one day they came up the first time that I had forgotten to play them in almost a year. I'll never forget sitting in the bar I used to frequent when they called the numbers. I just sat and stared at the TV for a few minutes and when the barmaid asked me if I was all right, I asked her for a double shot of vodka, then another. She came back a few minutes later and asked if I was okay. I told her "Did you see the numbers that came out for the lottery? I've played them every week since last year. I didn't play them this week."

Over six million before taxes that week.smiley

----------
The politician's motto: If you can't dazzle them with brilliance, baffle them with bull****.
Thystra
Posts: 544
Incept: 2009-07-12
Gold
Around the World
Online
Report This As A Bad Post Add To Your Ignored User List
The best use for lottery tickets is the chinese gift exchange at christmas time. So much drama over $10 of lotto tickets (which are probably worth nothing).
Wakeupcall
Posts: 4233
Incept: 2009-06-08
Green
Hampton Roads, VA
Report This As A Bad Post Add To Your Ignored User List
I would never give a lottery ticket as a gift-lol! Its a lose-lose. When the recipient gets the big goose egg, he/she realizes that you spent more on the card than the gift. And if it wins? You get to stew every day for the rest of your life realizing that you gave away $100M to someone you barely knew (I say barely knew because once you realize that the person will not split the prize with you...maybe give you a couple grand, while he quits his job, buys a mansion, buys a boat & sails around the world-all the while you are about to get laid off, are upside down in your mortgage & your wife is boinking the Fed Ex guy).

I can't see how giving a lottery ticket is ever a good idea.

----------
“Nothing travels faster than the speed of light, with the possible exception of bad news, which obeys its own special laws.”
Ben
Posts: 6205
Incept: 2009-10-09
Silver
The Distant, Glorious, Past
Report This As A Bad Post Add To Your Ignored User List
I spend less than $5 a year, it's always on a lark when getting gas in NA.

They have 2 lottos in China.

China Welfare Lottery
China Sports Lottery

I never play.

----------
"Why are you going to learn French?"
"Because I'm going to France," says Joe.
"I'm from the future. You should go to China."
Top Forum Top Login Control Panel FAQ Register Logout
Showing Page 1 of 2  First12Last